OF ZILINA

Faculty of Operation and Economics of Transport and Communications

Department of Economics

GLOBALIZATION AND ITS SOCIO-ECONOMIC CONSEQUENCES

“Sustainability in the Global-Knowledge Economy”

19th International Scientific Conference

9th – 10th October 2019

Rajecke Teplice, Slovak Republic

ORGANIZED BY

UNIVERSITY OF ZILINA, Faculty of Operation and Economics of Transport and Communications, Department of Economics

GUARANTEED BY prof. Ing. Tomas Kliestik, PhD. Dr.h.c. prof. Ing. Tatiana Corejova, PhD. prof. Ing. Anna Krizanova, PhD.

EDITED BY prof. Ing. Tomas Kliestik, PhD.

PROGRAMME COMMITTEE prof. Ing. Tomas KLIESTIK, Ph.D. University of Zilina, Slovak Republic assoc. prof. Ing. Viera BARTOSOVA, Ph.D. University of Zilina, Slovak Republic prof. Ing. Jaroslav BELAS, PhD. Tomas Bata University in Zlin, Czech Republic prof. Dr. Stefan BOJNEC, Ph.D. University of Primorska, Slovenia prof. Jelena BOROCKI University of Novi Sad, Serbia Dr.h.c. prof. Ing. Tatiana COREJOVA, Ph.D. University of Zilina, Slovak Republic assoc. prof. Ing. Viktor V. DENGOV, Ph.D. Saint Petersburg State University, Russian Federation assoc. prof. Ing. Beata GAVUROVA, MBA. PhD. Technical University of Kosice, Slovak Republic prof. Ing. Valentina V. GERASIMENKO, Ph.D. Lomonosov , Russian Federation assoc. prof. Ing. Ales HES, CSc. University of Finance and Administration, Praha, Czech Republic Dr. Anita KOLNHOFER-DERECSKEI Obuda University, Budapest, Hungary prof. Dr. Barbara KOS, Ph.D. Economics academa, Katowice, Poland assoc. prof. Pavol KRAL, Ph.D. University of Zilina, Slovak Republic prof. Ing. Anna KRIZANOVA, CSc. University of Zilina, Slovak Republic prof. Dr. Colin W. LAWSON University in Bath, United Kingdom assoc. prof. George LAZAROIU, PhD. Spiru Haret University, Bucharest, Romania prof. Ing. Zbigniew LUKASIK, DrSc. University of Technology, Radom, Poland JUDr. Mgr. Martina LUBYOVA, Ph.D. Slovak Academy of Sciences, Slovak Republic prof. Ing. Alexander N. LYAKIN, DrSc. Saint Petersburg State University, Russian Federation prof. Ing. Olga P. MOLCHANOVA, Ph.D. Lomonosov Moscow State University, Russian Federation prof. Ing. Hussam MUSA, Ph.D. Matej Bel University, Banska Bystrica, Slovak Republic prof. univ. dr. Elvira NICA Bucharest University of Economic, Studies, Romania prof. Ing. Jan POKRIVCAK, Ph.D. Slovak University of Agriculture in , Slovak Republic prof. univ. dr. Gheorghe H. POPESCU Dimitrie Cantemir Christian University, Bucharest, Romania prof. Dr. Mladen RADISIC University of Novi Sad, Serbia assoc. prof. Mariana SEDLIACIKOVA, PhD. Technical University in Zvolen, Slovak Republic assoc. prof. Pengfei SHENG, Ph.D. University of Henan, People Republic of China assoc. prof. Wlodzimierz SROKA University of Dabrowa Gornicza, Poland Ing. Vojtech STEHEL, MBA, PhD. The Institute of Technology and Business in Ceske Budejovice, Czech Republic Dr. phil., prof. Velga VEVERE The University College of Economics and Culture, Latvia prof. Ing. Marek VOCHOZKA, MBA, Ph.D. The Institute of Technology and Business in Ceske Budejovice, Czech Republic prof. Ing. Natalia A. ZHURAVLEVA, PhD. Emperor Alexander I St. Petersburg State Transport University, Russian Federation

ORGANIZING COMMITTEE

Ing. Juraj CUG, PhD. University of Zilina, Slovak Republic Ing. Pavol DURANA, PhD. University of Zilina, Slovak Republic Ing. Katarina JANOSKOVA, PhD. University of Zilina, Slovak Republic assoc. prof. JUDr. Ing. Jana KLIESTIKOVA, PhD. University of Zilina, Slovak Republic Ing. Maria KOVACOVA, PhD. University of Zilina, Slovak Republic Ing. Margareta NADANYIOVA, PhD. University of Zilina, Slovak Republic Ing. Ivana PODHORSKA, PhD. University of Zilina, Slovak Republic Ing. Anna SIEKELOVA, PhD. University of Zilina, Slovak Republic Ing. Ladislav VAGNER, PhD. University of Zilina, Slovak Republic Ing. Katarina VALASKOVA, PhD. University of Zilina, Slovak Republic

Globalization and its socio-economic consequences is an international scientific conference, thematically focused on the process of globalization and its impact on the economic, social and cultural life of human society. Its main aim is the cooperation with domestic and foreign educational and scientific-research institutions to present and transfer the newest knowledge in the relevant field. The conference has gained an excellent renown and that is the reason why outstanding Slovak and foreign experts in their fields take part in it. The requirement of publishing the paper is its originality, its contribution to the theory, presentation of empirical knowledge or model solutions of the given issue both at home and abroad. The 19th volume of the conference focuses on “Sustainability in the Global-Knowledge Economy” and addresses following fundamental issues: 1. Behavioural Economics and Finance 2. Innovation and Investment in Industry 4.0 3. Collaborative Economics and Digital Platforms 4. Corporate Social Responsibility and Sustainable Strategies 5. Regions and Economic Resilience 6. Economic Sustainability in Emerging Markets